Theories and Strategies in International Business and Globalisation

This essay provides an overview of international business and globalisation, highlighting the importance and impact of global trade, particularly for companies like Ocado Group Plc. It critically analyses the relevance of various international business theories, including mercantilism, absolute advantage, comparative advantage, Heckscher-Ohlin Theory, product life cycle theory, and global strategic rivalry theory. The essay also evaluates a range of international business strategies, such as exporting, licensing, and joint ventures, that can be undertaken by international businesses to enhance their market share and expand operations, with a focus on entering new markets like Australia. The importance of continuous innovation, strengthening customer relationships, and acquisitions are also discussed as key strategies for organisational managers.